Bitcoin Miner Genesis Digital Assets Secured 708 MW of Capacity During First Half of 2022 – Mining Bitcoin News

This week, bitcoin mining company Genesis Digital Assets announced that the firm has secured 708 megawatts (MW) of capacity and revealed plans to create 130 full-time jobs in the United States. Genesis CEO Andrey Kim said the firm has been pleased with the “pace” of the bitcoin mining company’s US expansion.

Genesis Digital Assets US Expansion Gathers 708 MW of Power

On Wednesday, Genesis Digital Assets revealed that it has purchased 708 MW of capacity as the firm’s US expansion continues. Currently, Genesis mines bitcoin at four locations in Texas, three locations in South Carolina and one location in North Carolina. During the first half of 2022, Genesis secured 708 MW from the Texas, South Carolina and North Carolina regions.

The company said the expansion will create 130 full-time jobs and approximately 495 construction jobs for the local communities. “Every day we get a chance to create meaningful and lasting relationships by creating job opportunities for the communities in which we operate,” explained Genesis’ global head of human resources Lydia Nyarko during the announcement Wednesday. “Remaining intentional and impactful is incredibly important to GDA as we expand our candidate placement.” The Genesis Digital Assets CEO added:

Watching our organization grow has been incredibly fulfilling. Bitcoin mining offers access to an exciting career path with a lot of potential to grow as the industry gets bigger and bigger in the years to come.

Bitcoin mining continues to expand amid the volatile bear market

Before securing more watts during H1 2022, Genesis announced the development of new mining centers and the bitcoin mining company bought thousands of bitcoin miners from Kanaan last year. Regarding 2022’s US expansion, Genesis COO Andrey Kim said the mining company is pleased with the speed of US growth. Like many other bitcoin mining operations this year, Kim noted that the crypto market is still breakout.

“We are very pleased with the pace of our US expansion,” the Genesis COO said in a statement Wednesday. “Our team has worked incredibly hard to scale our capacity, and while the market remains volatile, we are more committed than ever to delivering on our mission to provide the infrastructure that powers the Bitcoin network,” Kim added.

In addition to Genesis, a number of other bitcoin mining companies have expanded and purchased mining rigs during the downturn. Bitcoin miner Cleanspark announced earlier this week that it acquired a plug-in-ready facility with 86 MW of capacity, and last month it acquired thousands of miners at discounted prices. The company Cipher Mining completed a 40 MW plant in Alborz, Texas, and the miner Kryptovault AS announced a move north of the Arctic Circle to get cheaper electricity prices.

What do you think about Genesis Digital Assets revealing that it has secured 708 MW of bitcoin mining capacity? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the news editor at Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today.